Rhumbline Advisers Decreases Stake in GoDaddy Inc. (NYSE:GDDY)

Rhumbline Advisers decreased its stake in GoDaddy Inc. (NYSE:GDDY - Free Report) by 2.0% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 289,558 shares of the technology company's stock after selling 5,974 shares during the quarter. Rhumbline Advisers owned approximately 0.21% of GoDaddy worth $57,150,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of GDDY. Ashton Thomas Securities LLC purchased a new position in GoDaddy during the third quarter worth approximately $27,000. Anchor Investment Management LLC acquired a new position in shares of GoDaddy during the 3rd quarter worth approximately $31,000. Versant Capital Management Inc purchased a new position in shares of GoDaddy during the 4th quarter valued at approximately $43,000. Huntington National Bank grew its stake in GoDaddy by 298.7% in the 3rd quarter. Huntington National Bank now owns 307 shares of the technology company's stock valued at $48,000 after acquiring an additional 230 shares during the period. Finally, Carolina Wealth Advisors LLC purchased a new stake in GoDaddy in the 3rd quarter worth $49,000. Hedge funds and other institutional investors own 90.28% of the company's stock.

GoDaddy Trading Up 0.0 %

GDDY stock traded up $0.01 during trading on Thursday, reaching $176.56. 1,600,604 shares of the stock were exchanged, compared to its average volume of 1,332,415. The company has a current ratio of 0.72, a quick ratio of 0.56 and a debt-to-equity ratio of 5.46. The firm has a market capitalization of $24.79 billion, a price-to-earnings ratio of 27.37 and a beta of 1.15. The business has a 50 day moving average price of $202.67 and a 200-day moving average price of $180.77. GoDaddy Inc. has a 1 year low of $108.02 and a 1 year high of $216.00.

GoDaddy (NYSE:GDDY - Get Free Report) last released its quarterly earnings results on Thursday, February 13th. The technology company reported $1.42 EPS for the quarter, missing the consensus estimate of $1.43 by ($0.01). The firm had revenue of $1.19 billion for the quarter, compared to analysts' expectations of $1.18 billion. GoDaddy had a net margin of 20.49% and a return on equity of 176.06%. On average, research analysts predict that GoDaddy Inc. will post 6.53 earnings per share for the current year.

Insider Activity

In related news, CEO Amanpal Singh Bhutani sold 3,000 shares of GoDaddy stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $197.77, for a total value of $593,310.00. Following the completion of the sale, the chief executive officer now owns 342,956 shares in the company, valued at approximately $67,826,408.12. This trade represents a 0.87 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Phontip Palitwanon sold 770 shares of the company's stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of $196.64, for a total value of $151,412.80. Following the transaction, the chief accounting officer now owns 23,059 shares in the company, valued at $4,534,321.76. This trade represents a 3.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 24,482 shares of company stock valued at $4,903,930 in the last quarter. Insiders own 0.61% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on GDDY shares. Citigroup lifted their target price on shares of GoDaddy from $240.00 to $251.00 and gave the company a "buy" rating in a research report on Friday, January 3rd. Benchmark lifted their price objective on GoDaddy from $200.00 to $230.00 and gave the stock a "buy" rating in a report on Thursday, February 13th. Robert W. Baird increased their target price on GoDaddy from $200.00 to $225.00 and gave the company an "outperform" rating in a report on Tuesday, November 19th. Wells Fargo & Company initiated coverage on GoDaddy in a research report on Monday, February 3rd. They issued an "equal weight" rating and a $198.00 target price on the stock. Finally, Morgan Stanley boosted their price target on GoDaddy from $227.00 to $228.00 and gave the stock an "equal weight" rating in a research report on Friday, February 14th. Seven equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, GoDaddy has an average rating of "Moderate Buy" and a consensus price target of $213.20.

GoDaddy Company Profile

GoDaddy Inc engages in the design and development of cloud-based products in the United States and internationally. It operates through two segments: Applications and Commerce, and Core Platform. The Applications and Commerce segment provides applications products, including Websites + Marketing, a mobile-optimized online tool that enables customers to build websites and e-commerce enabled online stores; and Managed WordPress, a streamlined and optimized website building that allows customers to easily build and manage a faster WordPress site; Managed WooCommerce Stores to sell anything and anywhere online; and marketing tools and services, such as GoDaddy Studio mobile application, search engine optimization, Meta and Google My Business, and email and social media marketing designed to help businesses acquire and engage customers and create content.